Question
[The following information applies to the questions displayed below.] Ike issues $110,000 of 9%, three-year bonds dated January 1, 2021, that pay interest semiannually on
[The following information applies to the questions displayed below.]
Ike issues $110,000 of 9%, three-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $112,881 when the market rate is 8%.
1. Prepare the January 1 journal entry to record the bonds' issuance.
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Financial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th Edition
9781118560952, 1118560957, 978-0470239803
